Cathie Wood's Underperforming Flagship Fund Dumps Another Staple Stock Following Nvidia Exit: Social Media Recalls Jim Cramer's Comments From 2 Years Ago

Benzinga · Aug 23 14:45

Zoom Video Communications, Inc.(NASDAQ:ZM) shares rallied nearly 13% on Thursday as traders bid up the stock following the company's quarterly results butCathie Wood'sArk Invest's flagshipArk Innovation ETF(NYSE:ARKK) deemed it fit to divest its entire stake in the communications technology company.

What Happened:Zoom Video, considered a COVID-19 play, was a staple in the ARKK ETF. At one point in time, the stock accounted for about 11% of the fund's portfolio weighting, according to an influencer.

Trading disclosure from Ark on Tuesday showed the firm sold 424 Zoom Video shares it held in...

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Cathie Wood's Underperforming Flagship Fund Dumps Another Staple Stock Following Nvidia Exit: Social Media Recalls Jim Cramer's Comments From 2 Years Ago

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